Comet launches liquidation sale

Comet has launched a liquidation sale as administrators move to wind down the failed retailer ahead of store closures as early as next week.

Comet, which is being run by administrators Deloitte, announced the "massive stock liquidation" on its website.

The sale appears to be limited to physical stores with customers unable to buy goods online.

The website currently only offers a question and answer page, store locations and confirmation that gift cards will be accepted during the sale.

But it also warned customers that it is no longer providing refunds, and any goods ordered but not paid for prior to administration will not be delivered.

The sale follows suggestions that staff at the collapsed chain could have the chance to join a rival after Dixons outlined plans to take on seasonal staff.

The owner of PC World and Currys has delayed its normal Christmas recruitment drive, when it expects to take on an additional 2,000 seasonal shop staff, to offer Comet staff the opportunity to join the business.

Comet was placed into administration on Friday and gift vouchers for the stricken electrical retailer suspended on Saturday. The temporary ban was lifted on Tuesday.

Deloitte has been searching for a buyer for Comet's 236 shops since last week, but reports suggested stores could start to close next week.

The high street electricals market in the UK has come under huge pressure as cash-strapped shoppers put off purchases of big-ticket items such as TVs and large appliances.